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Pension select committee will submit Lehi 1 study without recommending a bill, asks for disaggregated cost analysis
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Summary
After debating alternatives including a merger bill (SB 5085), the committee voted to submit the Lehi 1 study to the legislature without endorsing a single option and asked that future cost analyses disaggregate the policy choices (merger vs restatement, plus COLA effects).
The Select Committee on Pension Policy voted to submit the final Lehi 1 study to the legislature without recommending a specific bill, but added a committee request that the legislature receive disaggregated cost and risk analyses separating the policy choices inside the bills.
Erin Gutierrez, committee staff, summarized the study and told members both bills reviewed by staff could be implemented but carry differing risks and policy goals. After an initial motion to make no recommendation failed to reach the procedural threshold for a binding recommendation, member Resha moved a modified motion: submit the study without recommendation on legislation, and ask the legislature and actuaries to disaggregate the policy choices and provide separate cost‑risk analyses for the components (for example, the merger provision versus restatement/termination and the COLA component).
Member Resha framed the motion as a way to provide clearer information to the legislature: 'rather than taking a recommendation on any of the one pieces of legislation, there are a variety of policy choices, and, this motion would ask that the legislature consider them in a disaggregated fashion and receive analysis to that effect.' The motion passed in roll call 15 ayes; 4 members were excused.
The committee majority said submitting the report without endorsing a single legislative option preserves staff work for the record while urging more granular fiscal analysis before the legislature acts. Committee staff and OSA agreed to provide updated actuarial fiscal notes and to prepare disaggregated analyses if requested by the legislature.
